QRG Capital Management Inc. Boosts Stock Holdings in HDFC Bank Limited $HDB

QRG Capital Management Inc. increased its stake in HDFC Bank Limited (NYSE:HDB) by 76.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,733 shares of the bank’s stock after acquiring an additional 18,015 shares during the period. QRG Capital Management Inc.’s holdings in HDFC Bank were worth $1,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division raised its holdings in HDFC Bank by 100.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after buying an additional 379 shares during the last quarter. Roxbury Financial LLC grew its stake in shares of HDFC Bank by 194.9% in the third quarter. Roxbury Financial LLC now owns 1,162 shares of the bank’s stock worth $40,000 after purchasing an additional 768 shares during the last quarter. Whipplewood Advisors LLC grew its stake in shares of HDFC Bank by 112.0% in the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after purchasing an additional 290 shares during the last quarter. Park Place Capital Corp increased its holdings in HDFC Bank by 100.0% during the 3rd quarter. Park Place Capital Corp now owns 1,426 shares of the bank’s stock valued at $49,000 after purchasing an additional 713 shares during the period. Finally, NewSquare Capital LLC raised its position in HDFC Bank by 136.4% during the 2nd quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock valued at $52,000 after purchasing an additional 390 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Down 0.9%

HDB opened at $32.35 on Wednesday. HDFC Bank Limited has a 52 week low of $29.04 and a 52 week high of $39.81. The stock has a market cap of $165.03 billion, a PE ratio of 19.43, a PEG ratio of 1.32 and a beta of 0.57. The business has a 50 day moving average of $35.42 and a 200-day moving average of $36.10.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, January 17th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $5.12 billion. HDFC Bank had a return on equity of 11.06% and a net margin of 14.92%. Equities analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 12th. Finally, Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).